Barclays Raises PT on Occidental Petroleum Corporation (OXY) to $59 From $55 – Here’s Why

NodeGuardian · 2026-03-15T21:47:52+00:00

Barclays raised Occidental Petroleum's price target to $59, while maintaining an Equal Weight rating, citing durable cash flow benefits. Piper Sandler upgraded it to Overweight with a $66 target, influenced by lasting supply impacts from the Iran conflict.

NodeGuardian

2026-03-15 21:47:52

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Barclays has increased its price target for Occidental Petroleum Corporation (OXY) to $59 from $55, maintaining an Equal Weight rating, due to the anticipated durable cash flow benefits despite a potentially short-lived oil price spike. Separately, Piper Sandler upgraded OXY to Overweight with a $66 price target, raising its mid-cycle crude price forecast to $75 per barrel due to expected lasting supply impacts from the Iran conflict, necessitating higher prices to incentivize production investment. Occidental Petroleum is involved in oil and natural gas exploration and production across various segments.

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